Congresswoman Maxine Waters, ranking member of the Financial Services Committee, has initiated an investigation into Meta’s involvement with digital assets over financial stability concerns.
Waters wrote a letter to top Meta executives Mark Zuckerberg and Javier Olivan on Jan. 22, highlighting a series of trademark applications that suggest a potential expansion into digital currency and blockchain technology, raising questions about the company’s intentions and activities in this domain.
She has requested clarification on Meta’s intentions regarding web3, digital wallets, and other related projects. These inquiries aim to ascertain the extent of Meta’s ongoing and future involvement in digital assets, including any potential research and development in stablecoin projects or partnerships with other stablecoin issuers.
Waters has long been a critic of the crypto industry and believes that the sector should be subject to the same stringent regulations as banks, especially stable
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